Ask a lender, not TikTok

From Anabela Vargas/Vice-President/Senior Loan Officer   The other day, I was scrolling through TikTok looking for closet and storage organization ideas. There are a lot of good ones on TikTok and it’s easy to envision other possibilities from the pictures and videos even when the situations are not exactly the same. I got curious about what was on TikTok when it comes to getting a mortgage. And I like TikTok. I check it out for lots of things. So it was surprising to see how watered down the mortgage information was and how often it was just not correct – especially when it came to what a potential homebuyer can “tell their bank” to do.

One person posting on TikTok said that the language of mortgages is confusing. But there are only a few terms a buyer really needs to know. Feeling certain that you have a clear understanding of those – as they affect your personal situation - should be on every homebuyer’s list of things-to-do as part of getting ready to buy a house.

If your goal is home ownership, especially for the first time, you will be better served working with a lender who knows lending and knows your area – an experienced local licensed professional who you can get to know, like and trust.

TikTok is entertainment. Anyone can say anything. And there’s absolutely a place for that. But when you are making significant decisions in important financial, legal or medical kinds of situations – when it really matters! - talking over your personal specifics in-person with a lender, lawyer or doctor is better than relying on TikTok or any online source.

If you have questions about buying a home, email me at bela@cantoncoopbank.com or call 781-828-8811 x4. There’s no charge and no obligation. At Canton Co-operative, we are happy to talk with you and happy to help you understand the process along with all of your options.

Anabela Vargas, VP/Senior Loan Officer NMLS #582849 – Falo Português Canton Co-operative Bank NMLS #721437

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